Welcome to this week’s Midweek Memo. In this issue, take a look at some snaps from attendees at VIATEC’s Geek Olympics, find out which companies are COAST’s newest members, and check out the disco lights on a visit to Barnacle Systems.

Now onto today’s briefing. It’s 691 words: a three-minute read.

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Investors optimistic about B.C.’s startup ecosystem despite decline in VC investment

Originally published in Vancouver Tech Journal

While investment activity in B.C. has fallen over the past two years — landing the province behind Alberta by $95 million so far in 2024 — local investors remain positive about the future.

At entrepreneurship@UBC on Tuesday, Startup TNT’s William Johnson moderated a session that touched on B.C.’s startup ecosystem, including context on its current state of decline, and considerations for startups looking to raise capital and grow.

The speakers included Amy Rae, partner at Vanedge Capital; Byron Thom, partner at BDC Capital’s Industrial Innovation Venture Fund; and Kenndal McArdle, principal at Pender Ventures. The panel generated a number of key takeaways.

• McArdle emphasized that, in terms of its population, B.C. should be further ahead in investment — especially given that, so far this year, the province is no longer one of the top three raising capital from venture deals.

• Thom noted that, compared to 20 years ago, there are nearly half as many people starting businesses. That’s down to a range of factors, like the country experiencing rising costs of living.

• Rae said she’s been an investor since around 2004 and has never had so many conversations about getting burn rates down — but while today’s landscape has made building a startup harder, she doesn’t believe that “it’s all negative.”

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📰 More Victoria innovation news

📸 I love to take a photograph: Victoria tech community members shared their highlights of the VIATEC Geek Olympics. Check out photos from Solaires Enterprises and AOT Technologies.

👋 Hello, it’s me: The Centre for Ocean Applied Sustainable Technologies (COAST) welcomed its newest members: 7 Leagues Leather, Alberni Yachts, and Greenline Marine.

👀 Show me what you got: VIATEC took a tour of Barnacle Systems’ site to find out what the crew is up to — disco lights included.

🕴️Tech jobs of the week

Find your next career:

• Hybrid Infrastructure Systems Administrator at BC Pension Corporation

• Mid-Level AEM Developer at Bekatec

• IT Technical Analyst - Project Coordinator at Royal Roads University

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September 11 | Online | COAST's Blue Pathways Initiative and advancements in AI for the workplace

Discover how AI is revolutionizing marine conservation through COAST's innovative Blue Pathways Initiative. Explore groundbreaking advancements in artificial intelligence that are shaping the future of ocean sustainability and conservation efforts worldwide.

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